JCI Tuesday Projected to Strengthen Limited, Check its Stock Recommendations

Illustration. (Photo: Dok. Antara)

JAKARTA - The Composite Stock Price Index (JCI) is projected to strengthen limited to today's trading, Tuesday, December 16, after yesterday closed slightly weaker at 0.13 percent to 8,649.66.

MNC Sekuritas in its research assessed the movement of the JCI in yesterday's Monday trading tended to be volatile. Although it had strengthened at the beginning of the session, the JCI finally closed corrected.

Pressure came from the energy and infrastructure sectors, as profit-taking actions on a number of conglomerate stocks that had previously strengthened on Friday's trading.

On the other hand, the weakening of the rupiah exchange rate and the majority of Asian stock exchange movements that tend to weaken also affect the movement of the JCI.

"For Tuesday's trading, the JCI still has the opportunity to strengthen in a limited manner. However, the index's movement is expected to remain overshadowed by market participants' caution towards a number of external sentiments," explained MNC Sekuritas.

Investors are still watching global geopolitical tensions as well as the release of the US Non-Farm Payrolls (NFP) data which will be released in the near future.

Technically, MNC Sekuritas projects the JCI to move with support levels at 8,635 and resistance at 8,694.

The stocks recommended by MNC Sekuritas for today's trading include PT Industri Jamu dan Farmasi Sido Muncul Tbk (SIDO) in the range of Rp565-Rp590, PT Barito Pacific Tbk (BRPT) at the level of Rp4,000-Rp4,290, and PT Adaro Andalan Indonesia Tbk (AADI) in the range of Rp7,550-Rp7,825.